Argentina and the world capital market: saving, investment, and international capital mobility in the twentieth century

• 成果类型: Article; Proceedings Paper
• 署名作者: Taylor, AM
• 署名单位: Northwestern University; Stanford University; National Bureau of Economic Research
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/S0304-3878(98)00081-9
• 发表日期: 1998
• 页码: 147-184
• 关键词: argentina; Economic history; International capital markets; Saving; INVESTMENT

摘要

This paper is concerned with integration in the world capital market between the economies of the core and periphery in the twentieth century. It proceeds with some general observations and with a special focus on the case of Argentina. I will argue that understanding the changing relations in international capital markets offers important insights into the growth and development process, especially for the countries of the periphery. Moreover, study of the extent of market integration in history informs current conditions in the relationship between capital-scarce economies, like Argentina, and the global capital market as a whole. Looking to the future, the repercussions of economic reform and demographic change suggest likely implications for future saving, investment, and international capital flows. (C) 1998 Elsevier Science B.V. All rights reserved.